RubinBrown Apartment Stats 2024

GOVERNMENT ASSISTED

2023

2022

2021

Total Number of Projects Average Number of Units

1024

1102

939

105

107

106

Averages Per Unit: Monthly Rent

$1,294

$1,155

$1,077

Square Feet

875

901

905

Rooms

4.36

4.45

4.43

Economic Occupancy

92.0%

92.4%

93.0%

Net Operating Income Before Debt Service & Depreciation as a Percentage of Total Income

37.5%

37.0%

40.9%

A

B

C

A

B

C

A

B

C

Revenues Gross Potential Rent Less: Vacancy Loss

$15,886

$18.16 (1.45) (0.46) (0.26)

100.0%

$13,860

$15.38 (1.16) (0.32) (0.18)

100.0%

$12,925

$14.28 (1.00) (0.28) (0.30)

100.0%

(1,272)

-8.0% -2.6% -1.4% 88.0%

(1,048)

-7.6% -2.1% -1.2% 89.2%

(909) (250) (272)

-7.0% -1.9% -2.1% 89.0%

Collection Loss

(406) (224)

(292) (161)

Concession Loss

Rent Collected

13,983

15.99

12,359

13.72

11,494

12.70

Other Income

786

0.90

5.0%

803

0.89

5.8%

1,101

1.22

8.5%

Total Income

$14,770

$16.89

93.0%

$13,162

$14.61

95.0%

$12,595

$13.92

97.5%

Expenses Salaries and Personnel

$1,605

$1.84

10.1%

$1,382

$1.53

10.0%

$1,243

$1.37

9.6% 6.8% 0.7% 4.7% 7.7%

Administrative

1,128

1.29 0.13 0.76 1.46

7.1% 0.7% 4.2% 8.0%

1,191

1.32 0.12 0.66 1.30

8.6% 0.8% 4.3% 8.5%

873

0.96 0.10 0.67 1.10

Marketing

112 661

112 596

92

Management Fees

602 994

Utilities

1,277

1,173

All Repair, Maintenance and Contract Services

2,181

2.49

13.9%

2,034

2.26

14.7%

1,899

2.10

14.7%

Insurance

805 772 689

0.92 0.88 0.79

5.1% 4.9% 4.3%

598 895 314

0.66 0.99 0.35

4.3% 6.5% 2.3%

540 834 364

0.60 0.92 0.40

4.2% 6.5% 2.8%

Real Estate Taxes

Other Taxes

Total Expenses

$9,229

$10.55

58.3%

$8,295

$9.21

59.8%

$7,441

$8.22

57.7%

Net Operating Income Before Debt Service and Depreciation

$5,541

$6.34

34.7%

$4,867

$5.40

35.1%

$5,154

$5.70

39.8%

A = Dollars per unit, per year

B = Dollars per square foot, per year

C = Percent of gross potential rent

RubinBrown Apartment Stats 2024

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